!!!!! If there is serious money at stake, or a reasonable prospect of serious money at stake for you, use some of that money to pay a lawyer admitted in your jurisdiction and familiar with the law on IP agreements and nocompetes to look at the agreement and advise you. It really won't cost all that much for a consultation and a bit of contract reading just to see where you stand. Then make a decision. !!!!!
(Source: IAAL (law professor actually), though I don't currently practice and am almost certainly not admitted in your jurisdiction.)